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SERABI GOLD PLC : DRILLING UPDATE - UPGRADED INTERCEPTS ENHANCE THE PIAUI PROSPECT



Serabi Gold plc
   

Published: 08:00 CET 24-01-2012 /Thomson Reuters /Source: Serabi Gold plc /XLON: SRB /ISIN: GB00B4T0YL77

Serabi Gold plc : Drilling Update - Upgraded Intercepts Enhance the Piaui Prospect



For immediate release

24 January 2012

Serabi Gold Plc

("Serabi" or the "Company")

 

Upgraded Intercepts Enhance the Piaui Prospect

 

 

Serabi Gold plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold exploration Company, is pleased to announce final independent laboratory analytical results from the shallow infill and extensional drilling programme at the Piaui Prospect at their 100% owned Jardim do Ouro project.  

 

Final analyses of previously reported preliminary results tabled below show a higher reported gold grade on average of 14.9%.  This upgrading in tenor is a result of the analytical techniques used.

Preliminary onsite results were completed via an aqua regia digest analytical technique whereas the independent laboratory ALS Minerals of Vancouver has reported results derived from a 30gm fire assay.

 

 

Mike Hodgson, Chief Executive, commented:

 

"With no historical artisanal workings, Piaui is a discovery which has resulted directly from our aerial geophysical programme.  Previously announced geochemical and drilling results over a 300m strike length indicated good grades at shallow depths including results of 1.93 metres @ 22.86g/t Au, 10.7 metres @ 1.17 g/t Au, 9.1 metres @ 2.24 g/t Au, 3.2 metres @ 16.16 g/t Au and 4.5 meters @ 2.75 g/t Au, and highlighted the possibility of wider intersections than we have encountered at Palito.  The 16% upgrade of the preliminary results from our latest drill programme, covering a cumulative strike length of 700m has enhanced the potential of Piaui Prospect.

We continue to investigate the near surface ore potential at Piaui, through an Auger drilling programme, which has to date brought some further encouraging results".

 

This last round of diamond drilling followed the successful Phase 1 discovery results, as well as the ground-based geophysical Induced Polarisation (IP) survey undertaken (as reported in the Companys announcement of 12 September 2011).  The IP survey had indicated a potential strike length of the Piaui Prospect up to 1,400 metres.  The drilling has intersected broad zones of intense chlorite/silica/sulphide alteration over a cumulative strike length of 700m.

The results indicate a significant mineralized system remaining open at depth.

 

Significant results illustrating the preliminary Palito and confirmed ALS results returned to date include:

 

 

 


Hole

East

North

RL

Hole Depth

Dip/Azm

From

To

Width

Au (Palito)

Au (ALS)

 

(UTM)

(UTM)

(UTM)

(m)

 

(m)

(m)

(m)

g/t

g/t

PDD0497

633246

9300573

235.66

191.05

-52/211

51.50

52.00

0.50

0.94

1.17

 

 

 

 

 

 

66.69

67.22

0.53

1.14

1.38

PDD0498

633900

9300105

204.55

111.70

-50/210

40.98

41.70

0.72

3.63

4.17

 

 

 

 

 

 

49.66

50.57

0.91

3.05

3.22

PDD0499

633142

9300633

242.22

188.20

-50/212

110.57




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